Double Standards of the World Trade Organization

Paper Summary:

This paper explores the World Trade Organization's bias against the poor and how it almost exclusively favors the rich. The paper also looks at how the major players in the WTO system do not abide by the very rules that they have created.

From the Paper:

"The recent Cancun round of negotiations within the WTO, regarding especially agricultural subsidies, showed that finally the developing countries starting with giants such as India and Brazil, preponderantly agricultural countries with significant contribution to world trade, backed up by China, could finally make a common point and a stand still against the European Union and the United Stated. The strange and somewhat revolting point of discussion is that, while boasting liberalization and free trade, the EU and the United States spent an approximated $300 billion in subsidies, almost all of them going to agriculture. Isn't a subsidy a way to ignore the free trade boasted as the main program by the WTO. Of course, you do not use taxes to raise imported goods prices, but you follow a reverse pattern and use subsidies to lower national goods prices and make them more competitive on the foreign market."

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